Placing and open offer result

Creston PLC 13 October 2003 Creston Plc ("Creston" or the "Company") Result of Placing and Open Offer On 19 September 2003, Creston, the marketing services and communications group, announced the acquisition of Nelson Bostock Communications Limited and a Placing and Open Offer of 5,303,841 new ordinary shares at a price of 86 pence per new ordinary share to raise approximately £4.24 million (net of expenses). The Board is pleased to announce that, following the closing of the Open Offer at 3.00 p.m on 10 October 2003 valid applications have been received from Qualifying Shareholders for all of the 1,516,010 new ordinary shares available for take up under the Open Offer by Qualifying Shareholders. Creston received irrevocable undertakings from Directors and certain other shareholders to subscribe for all or part of their pro-rata entitlements under the open offer in respect of 575,830 new ordinary shares. In addition, the Company received irrevocable undertakings from Directors and certain other shareholders not to subscribe for all or part of their pro-rata entitlements under the open offer in respect of 712,001 new ordinary shares and these shares were placed firm by Charles Stanley & Co. Limited with institutional investors. The Placing and Open Offer remains conditional, inter alia, upon the approval of the Company's shareholders. The extraordinary general meeting, at which a resolution will be proposed to approve the Placing and Open Offer, is to be held on 15 October 2003. The new ordinary shares will rank pari passu in all respects with the existing ordinary shares and will rank in full for dividends and other distributions declared, made or paid after Admission. Application has been made to the UK Listing Authority for the new ordinary shares to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange plc for the new ordinary shares to be admitted to trading on the London Stock Exchange's market for listed securities. It is expected that Admission will take place and dealings will commence in the new ordinary shares on Thursday, 16 October 2003. Enquiries Creston Plc 020 7930 9757 Don Elgie, Chief Executive Tim Alderson, Finance Director Charles Stanley & Co. Limited 020 7953 2000 Mark Taylor Freddy Crossley Redleaf Communications 020 7955 1410 Emma Kane 07876 338339 James White Notes to Editors About Creston PLC Creston's strategy is to build a diversified international marketing services group through a combination of organic growth and selective acquisitions. The Board believes that it can identify synergistic benefits between currently independent marketing services companies offering premium services such as market research, direct marketing, customer relationship marketing and other areas of marketing communications. The Board's objective is that each element of the Group will reflect the continued trend away from mass marketing towards one-to-one marketing between clients and customers. Following its repositioning in January 2001 as a marketing services group, Creston has made three significant acquisitions, each serving what the Directors consider to be resilient sectors within the industry and which have demonstrated growth despite difficult market conditions: • the acquisition in January 2001 of Marketing Sciences Limited, an international quantitative and qualitative market research company, based in Winchester; • the acquisition in November 2001 of The Real Adventure Marketing Communications Limited, a national marketing communications company, based in Bath; and • the acquisition in November 2002 of EMO Group Limited, a national channel marketing communications company, based in Swindon and Bristol. About Nelson Bostock Communications Limited ("NBC") • Nelson Bostock Communications, a London based public relations agency founded in 1987, ranks as the 25th largest UK agency and 10th largest agency in the technology sector in recent industry league tables. Nelson Bostock Communications has a highly experienced management team and employs 49 people, providing a broad range of public relations and marketing communications consultancy and services to some 40 clients and has demonstrated strong resilience in difficult market conditions. This information is provided by RNS The company news service from the London Stock Exchange TMMTBBMJ
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